As used in this article, unless a different meaning clearly
appears from the context:

(1) "Beneficiaries" means those individuals entitled to
benefits from the participant plans;

(2) "Board" means the governing body for the West Virginia
Investment Management Board and any reference elsewhere in this
code to Board of Investments or West Virginia Trust Fund means the
board as defined in this subdivision;

(3) "401(a) plan" means a plan which is described in Section
401(a) of the Internal Revenue Code of 1986, as amended, and with
respect to which the board has been designated to hold assets of
the plan in trust pursuant to the provisions of section nine-a of
this article;

(4) "Local government funds" means the moneys of a political
subdivision, including policemen's pension and relief funds,
firemen's pension and relief funds and volunteer fire departments,
transferred to the board for deposit;

(5) "Participant plan" means any plan or fund subject now or
hereafter to subsection (a), section nine-a of this article;

(6) "Political subdivision" means and includes a county,
municipality or any agency, authority, board, county board of
education, commission or instrumentality of a county or
municipality and regional councils created pursuant to the provisions of section five, article twenty-five, chapter eight of
this code;

(7) "Trustee" means any member serving on the West Virginia
Investment Management Board: Provided, That in section nine-a of
this article in which the terms of the trusts are set forth,
"trustee" means the West Virginia Investment Management Board;

(8) "Securities" means all forms and types of investments,
financial instruments or financial transactions which may be
considered prudent for investment by the board under section eleven
of this article; and

(9) "State funds" means all moneys of the state which may be
lawfully invested except the "school fund" established by section
four, article XII of the State Constitution.